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Assistant professor honored for "Labor Income Risk over the Life Cycle: Measurement and Implications."

Assistant Professor of Finance Doriana Ruffino and coauthors Fabio Bagliano, Carolina Fugazza, and Giovanna Nicodano at the Università degli Studi di Torino (Italy) have been awarded the 2011 Collegio Carlo Alberto Research Grant Award for their project entitled "Labor Income Risk over the Life Cycle: Measurement and Implications."

At the core of the project are the assessment and hedging of labor income risk by pension funds' members through appropriate savings and investments. Immediate policy implications of this analysis include improved matching of pension funds' members with available default investment options, thus allowing for an increase in workers' welfare.

The Collegio Carlo Alberto, which fosters high-quality and policy-relevant economic research in Italy, has allocated 50,000 euros to the project.